Greek households’ available income down 4.5 pct in 2015

Greek households’ and non-profit organizations’ available income fell 5.5 pct, or 4.5 pct, in 2015 compared with 2014 to 114.8 billion euros, from 120.3 billion in 2014, Hellenic Statistical Authority said on Friday.

As a result, final consumption spending by Greek households fell by 2.3 billion euros, or 1.8 pct to 122.8 billion euros in 2015, from 125.1 billion in 2014, while the savings rate (savings/available income) fell to -7.0 pct in 2015 from -4.0 pct in 2014.

The statistics service, in its annual non-financial accounts of institutional sectors, said that private investments (gross fixed capital formation) fell by 0.5 pct to 8.4 billion euros in 2015 from 8.5 billion in 2014. Finally, the external balance of goods and services recorded a surplus of 300 million euros in 2015 from a deficit of 4.3 billion in 2014.